9:00am (EST)
We have a Trade Alert ahead of the open so let’s go check the action.
Trade Alert!
Cisco Systems (CSCO, $53.11, up $0.49)
CSCO September 55 calls (CSCO230915C00055000, $1.15, up $0.15)
Entry Price: $0.85 (7/24/2023)
Exit Target: $1.70
Return: 35%
Stop Target: 95 cents (Stop Limit)
Action: Set an initial Stop Limit at 95 cents to start protecting profits and to avoid a loss.
Tuesday’s 52-week peak tagged $53.76 and we wanted to get into these calls on the breakout. We still like the trade but RSI on the stock is nearing 70.